India's net FDI rises to $5.5 billion in Q1FY25: RBI report
Sep 21, 2024, at 03:32 am
Mumbai: India's net foreign direct investment (FDI) rose to $5.5 billion during the April-July period of the current financial year (FY25), up from $3.8 billion in the same period last year, Business Standard reported citing the latest Reserve Bank of India (RBI) report.
Anil Ambani's Reliance Infrastructure to get equity infusion of Rs 1,100 cr from promoters
Sep 20, 2024, at 11:12 pm
Mumbai: Anil Ambani's Reliance Infrastructure is set to receive an equity infusion of Rs 1,100 crore from its promoters and Rs 1,910 crore from two investment firms based in Mumbai, according to a stock exchange filing on Friday.
'It will never happen again': EY India Chairman on missing young CA's funeral who died of 'overwork'
Sep 20, 2024, at 11:08 pm
Mumbai: Amid a massive outrage over the death of 26-year-old Chartered Accountant Anna Sebastian Perayil, allegedly due to overwork while working in Earnest & Young India, the company’s Chairperson Rajiv Memani expressed regret for not attending her funeral, stating it "will never happen again."
Hacker exploits Telegram chatbots to leak data from leading Indian insurer Star Health
Sep 20, 2024, at 10:53 pm
New Delhi/IBNS: Customer data, including medical records, from India's top health insurer, Star Health, has been compromised and is now accessible through Telegram chatbots, reports Reuters.
Dow Jones jumps 500 points, S&P 500 hits record highs, closing above 5,700 after US Fed rate cuts
Sep 20, 2024, at 08:41 pm
New York: US markets soared on Thursday (Sept. 19), following the Federal Reserve's recent announcements, with both the Dow Jones and S&P 500 closing at all-time highs.
Rs 2 lakh crore market cap a conservative target for RPSG Group, says Sanjiv Goenka
Sep 20, 2024, at 08:28 pm
Kolkata/IBNS: The RP-Sanjiv Goenka Group is adjusting the balance between its offshore and onshore operations to enhance Firstsource’s profit margins, Chairman Sanjiv Goenka revealed to Moneycontrol on Thursday (Sept. 19).
Apple stores in Delhi and Mumbai draw massive crowd as iPhone 16 series now on sale
Sep 20, 2024, at 05:25 pm
Apple's flagship stores in the national capital Delhi and financial capital of India, Mumbai drew a massive crowd this morning as its iPhone 16 series went on sale from Friday.
Anil Ambani led Reliance Infrastructure to raise Rs 6,000 cr via share sale
Sep 20, 2024, at 06:37 am
Mumbai: Reliance Infrastructure Ltd, led by Anil Ambani, announced plans to raise up to Rs 6,014 crore through the sale of shares and convertible warrants on Thursday.
Indian economy to be 3rd largest by 2030-31, growing 6.7% annually: S&P Global's forecast
Sep 20, 2024, at 06:30 am
New Delhi: The Indian economy is projected to grow at an annual rate of 6.7% between now and 2030-31, becoming the third-largest economy in the world, according to S&P Global's forecast on Thursday, media reports said.
US Fed rate cut to have little impact on India: CEA Nageswaran
Sep 20, 2024, at 05:57 am
New Delhi: The recent rate cut by the US Federal Reserve is unlikely to have a major impact on India, as much of the move was already factored into the market, said Chief Economic Advisor (CEA) V. Anantha Nageswaran on Thursday, media reports said.
RBI revokes restrictions on IIFL Finance gold loan business
Sep 20, 2024, at 05:23 am
Mumbai: Non-bank lender IIFL Finance said on Thursday that the Reserve Bank of India (RBI) lifted the earlier restrictions imposed on its gold loan operations.
Ex-AWS engineer claims Amazon is 'silent sacking' employees in 5 phases
Sep 19, 2024, at 08:54 pm
Hyderabad/IBNS: A former software engineer at Amazon Web Services (AWS) has claimed that the company’s recent mandate requiring employees to return to the office by January 2 is less about "inventing and collaborating," as stated by CEO Andy Jassy, and more about reducing headcount while avoiding significant tax liabilities.
GRSE secures $54 million order, Centre upgrades PSU to 'Schedule A' category
Sep 19, 2024, at 08:39 pm
New Delhi/IBNS: The government on Wednesday (Sept. 18) upgraded shipbuilding and defence Public Sector Undertaking (PSU) Garden Reach Shipbuilders and Engineers Ltd. (GRSE) from Schedule ‘B’ to Schedule ‘A’ Central Public Sector Enterprise (CPSE), reports said.
India surpasses China in world's largest investable stock index
Sep 19, 2024, at 07:51 pm
New Delhi/IBNS: India has surpassed China in its weighting within one of the world’s largest stock market benchmarks, as increased share sales and liquidity make Indian companies more accessible to global investors, reports Financial Times.
US Fed cuts interest rates by 50 bps, first reduction since 2020
Sep 19, 2024, at 07:35 pm
Washington/IBNS: The US Federal Reserve, popularly known as the Fed, has reduced its key lending rate by half a percentage point, marking the first cut since the Covid-19 pandemic in 2020, just weeks ahead of November’s presidential election.
Sep 19, 2024, at 06:07 pm
Pune/IBNS: Ernst & Young India has responded after a 26-year-old employee in Pune died due to "work stress" as claimed by her family, media reports said.
Arya.ai founder to create global open source community to boost Safe Super Intelligence ecosystem
Sep 19, 2024, at 06:23 am
A groundbreaking initiative is set to expedite the Artificial General Intelligence (AGI) landscape with the launch of a new collaborative group aimed at building a Safe Super Intelligence (SSI)
Arunangshu Sarkar joins the ONGC Board as first-ever Director of Strategy & Corporate Affairs
Sep 19, 2024, at 06:15 am
New Delhi: Arunangshu Sarkar has joined the ONGC Board as the company’s first-ever Director (Strategy & Corporate Affairs), effective September 17, 2024.
Amazon India veteran Samir Kumar to take over as its head of India consumer business
Sep 19, 2024, at 06:04 am
Mumbai: Samir Kumar, who has been with Amazon for 25 years, will take over as head of its India consumer business following the resignation of Manish Tiwary, the company announced on Wednesday.
NTPC Green Energy submits draft papers for $1.2 billion IPO: Report
Sep 19, 2024, at 05:20 am
New Delhi: NTPC Green Energy, a subsidiary of state-owned power producer NTPC, filed draft papers on Wednesday for an initial public offering (IPO) worth Rs100 billion ($1.19 billion) as it seeks to capitalize on India's renewable energy expansion and a booming stock market, Reuters reported.
Govt raises MSME lending target to Rs 27.5 lakh cr for FY25
Sep 19, 2024, at 04:39 am
New Delhi: The Union government has raised its lending target for Micro, Small, and Medium Enterprises (MSMEs) to Rs 27.5 lakh crore for FY25, marking an increase of over 10% compared to the previous year, media report said.
IREDA gets nod for Rs 4,500 cr fundraise via QIP route; govt to offload 7% stake
Sep 19, 2024, at 02:35 am
New Delhi: The Indian Renewable Energy Development Agency (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise up to Rs 4,500 crore through a fresh equity share issue via a Qualified Institutional Placement (QIP).
Tata Power to invest up to $9 billion in expanding renewable energy capacity
Sep 18, 2024, at 08:17 pm
Mumbai/IBNS: Tata Power plans to invest up to $9 billion to more than quadruple its renewable energy capacity to over 20 gigawatts (GW) within the next five to six years, Reuters reported on Tuesday, citing the company's CEO Praveer Sinha.
Reliance Power settles Rs 3,872 crore in obligations, achieves debt-free tag
Sep 18, 2024, at 07:41 pm
Mumbai/IBNS: Shares of Reliance Power Ltd surged by 5 percent on Wednesday (Sept. 18) after the company announced that it had fully settled its Rs 3,872 crore obligation as a guarantor for Vidarbha Industries Power (VIPL), reports Moneycontrol.
India's wholesale inflation drops for second consecutive month to 1.31% in August
Sep 18, 2024, at 07:17 pm
New Delhi/IBNS: Wholesale inflation in India declined for the second consecutive month, reaching 1.31 percent in August, driven by lower prices for vegetables, food, and fuel, according to government data released on Tuesday.
Sovereign Gold Bonds available for early redemption on September 17
Sep 18, 2024, at 06:15 am
New Delhi: Investors holding an early series of Sovereign Gold Bonds (SGBs) have reason to celebrate, as the returns on these bonds, issued five years ago, have more than doubled, offering substantial rewards, media reports said.
Raymond Lifestyle plans 40-50 new stores in Kolkata and West Bengal over 3 years
Sep 18, 2024, at 06:00 am
Kolkata: Raymond Lifestyle Ltd. (RLL) is looking to expand its footprint beyond the 85-strong ‘The Raymond Shop’ network across West Bengal by adding 40-50 more shops in the next three years.
Govt removes windfall tax on petroleum crude
Sep 18, 2024, at 05:29 am
New Delhi: The Union government has reduced the windfall tax on petroleum crude to zero from Rs 1,850 per metric ton, effective September 18, according to a government notification issued on September 17.
SpiceJet hasn't paid Rs 427 cr in GST, TDS, and PF dues since 2020: Report
Sep 18, 2024, at 05:22 am
Mumbai: Budget airline SpiceJet announced on Tuesday that it failed to pay statutory dues amounting to Rs 427 crore between March 2020 and August 2024, citing its "constrained financial position", media reports said.
UK-based fintech Revolut set to enter India by 2025: Report
Sep 17, 2024, at 10:58 pm
Mumbai: UK-based Revolut, one of Europe's leading fintech companies, is preparing to launch its services in India by 2025, targeting tens of millions of affluent consumers, according to a report by The Financial Times.